NAR Economist: We’ve Never Seen Prices Rise This Fast
In May, the year-to-year median home price was up almost 24%. The inventory shortage played a role, says NAR’s Yun, but affordability is squeezing some buyers out too.
Why Do At-Risk Homeowners Forgo Flood Insurance?
“It’s too expensive” seems obvious as a reason to skip flood ins., but a study found owners often think they don’t need it – that the government steps in after a disaster.
Number of Mortgages in Forbearance Drops to 3.5%
Mortgage bankers say that many homeowners are coming out of forbearance, with only 7.4%, so far, either selling the home, doing a refi or otherwise paying off the mortgage. 1 in 4 (23.2%) never stopped making monthly payments; another 1 in 4 (28%) ended up having their loans deferred.
NAHB: Supply Problems Continue to Worry Builders
Buyer demand remains strong, but builders can’t deliver homes until supply-side challenges subside, pushing NAHB’s builder attitude index one point lower this month.
Launching a Listing: The Seven-Day Strategy
Seller’s agents have an opportunity to debut a listing in a way that increases the chance they’ll also find a buyer, but it takes more than just adding it to the MLS.
Leaders Worry About Recovery as COVID Variant Spreads
The stock market plunged as biz leaders worried about the Delta variant and any possible impact on closures, federal bans and even a renewed hesitancy among home sellers.
Men Plead Guilty in Fla. to $1.3B Real Estate Fraud Scam
In S. Fla., two Calif. men pleaded guilty for their role in a $1.3 billion real estate fraud scheme that stole money from thousands of investors across the U.S.
June Rental Prices Broke Records in 44 Cities
Realtor.com rental listing costs were up 8.1% year-to-year in June, and two Fla. metros ranked in the top 10 for increases: Tampa-St. Pete, up 21.2% and Jacksonville, up 14.4%. Overall, two-bedroom units saw the largest increase, 10.2%, as demand for a larger living space continues.
FHFA Scraps Homeowners’ Fee for Refinancing
In 2020, FHFA made homeowners pay an extra fee if they refinance, but that fee will go away after Aug. 1 – part of a new focus to help owners keep their property.
Fla.’s Rental Assistance Program Provides Financial Relief
Housing providers and tenants financially impacted by the pandemic need to look into the OUR Florida program for potential relief.